When was Magna founded?

Magna was founded in 2022 and raised its 1st funding round within a year of its incorporation.

Where is Magna located?

Magna is headquartered in New York, United States.

Who is the current CEO of Magna?

Bruno Faviero of Magna. They are also angel investors in 2 startups.

How many employees does Magna have?

As of Aug 31, 2026, the latest employee count at Magna is 24.

Is Magna a funded company?

Magna is a funded company, having raised a total of $15.7M across 2 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Mar 2022.

How much is Magna worth?

The last known valuation of Magna was $***** as of Sep 15, 2022.

When was the latest funding round of Magna?

Magna's latest funding was a $***** Seed round on Sep 15, 2022, with participation from 19 investors.

Where does Magna rank among its competitors?

Magna ranks 1st amongst 57 active competitors, of which 17 are funded. It stands 5th in terms of total funding among its competitors. The most recent competitor to raise funding was Squads Labs, which secured $18M in Apr, 2026.

Who are the top competitors of Magna?

Magna's top competitors include Bit Digital, Tres Finance and Bitwave. Among them, Squads Labs secured the most recent funding round in April, 2026.

Magna - 2026 Company Profile, Team, Funding & Competitors

Company Details

Online platform offering coins enabling payments. Offers exchange analytics and insights on who’s selling or transferring tokens over time. Offers compliant token payments for vendors or contractors.

Website: www.magna.so/
Social

Key Metrics

Founded Year

2022

Location

New York, United States

Stage

Acquired

Total Funding

$15.7M in 2 rounds

Latest Funding Round

Seed, Sep 15, 2022, $*****

Last Known Valuation

$***** as on Sep 15, 2022

Investors

Tiger Global Management & 25 more

Ranked

1^st among 57 active competitors

Employee Count

24 as on Aug 31, 2026

Similar Companies

Tres Finance & 43 more

Exit Details

Acquired by Payward (Feb 18, 2026)

View Magna's full profile

Magna is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Magna Digital, Inc. CIN: 1919657 , Belgium, Active	Mar 27, 2022	-	-	-

Magna got acquired by Payward on Feb 18, 2026.

Click here to take a look at Magna's acquisition in detail

Magna has raised a total funding of $15.7M over 2 rounds. Its first funding round was on Mar 2022. Its latest funding round was a Seed round on Sep 15, 2022 for $*****. 19 investors participated in its latest round. Magna has 23 institutional investors and 3 angel investors.

Here is the list of recent funding rounds of Magna:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Sep 15, 2022	2701250	Seed	1658241	1795386	6046679	1265461
Mar 2022	1351872	Seed	3271646	1855511	6081503	Y Combinator

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View details of Magna's funding rounds and investors

The founders of Magna is Bruno Faviero.

Here are the details of Magna's key team members:

Bruno Faviero: Co-Founder & CEO of Magna and founder of 2 other companies, Synapse Technology and Alloy Fund. They are also an angel investor in 2 startups.

View details of Magna's Founder profiles and Board Members

Magna's employee count trend

Magna has 24 employees as of Aug 26. Here is Magna's employee count trend over the years:

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Top competitors of Magna include Bit Digital, Tres Finance and Bitwave. Here is the list of Top 10 competitors of Magna, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Magna 2022, New York (United States), Acquired	Online platform offering coins enabling payments	$15.7M	Tiger Global Management, TVP & 24 others	61/100
2nd	Bit Digital 2015, New York City (United States), Public	Operator of infrastructure securing the Ethereum network and managing ETH treasury	-	-	60/100
3rd	Tres Finance 2022, Tel Aviv (Israel), Acquired	Web3 financial management platform	$18.6M	Boldstart Ventures, F2 Capital & 11 others	59/100
4th	Bitwave 2019, San Francisco (United States), Series A	Accounting solutions for crypocurrencies	$22.3M	Blockchain Coinvestors, Nima Capital & 12 others	57/100
5th	Squads Labs 2021, British Virgin Islands, Series B	Fintech and crypto infrastructure company building stablecoin-based financial products, APIs, and secure asset management tools	$42.9M	Placeholder, Electric Capital & 27 others	50/100
6th	Entendre 2022, New York City (United States), Seed	Web3 accounting platform for businesses	$4.06M	Basis Set Ventures, Caffeinated Capital & 7 others	48/100
7th	Metaplanet 1999, Minato (Japan), Public	Developer of financial strategies focused on holding digital reserve assets	-	-	47/100
8th	Fipto 2022, Paris (France), Seed	Blockchain-based payments and treasury management platform	$16.1M	Serena, Motier & 1 others	46/100
9th	Multis 2019, San Francisco (United States), Acquired	Cryptocurrency treasury management software for businesses	$9.2M	Sequoia Capital, White Star Capital & 15 others	44/100
10th	Accointing 2017, Zug (Switzerland), Acquired	Crypto tax and portfolio tracking solution	-	-	43/100